Royal
Niger Emerging Technologies, a Nigerian indigenous company in the oil and gas
sector, has said that it will create an additional 720 jobs in the country with
the setup of a $50 million plant for the manufacture of finished umbilical
products in Nigeria.
The
company said the plant would boost Nigeria's workforce adding more jobs to the latest jobs in Nigeria and save the country
billions of naira expended on importation of umbilical products.
An
umbilical is a cable which supplies fluid, power and data to drilling and
production equipment.
Anthony
Okolo, Managing Director of the company, who announced this in Lagos, said the
facility is expected to begin operations in the second quarter of 2015 and will
have an annual cable output of up to 12km per annum.
He
said the umbilicals will be manufactured at Royal Niger's facility at Angel
Park, Iworo, Badagry, with ease of logistics from the Apapa Port and offers
optimal logistics to all successful tenderers of umbilical projects in Nigeria.
"The
plant will be a key element in ensuring leading manufacturers of umbilical
products are able to meet their Nigerian Content compliance requirements by
ensuring up to 60% of the equipment tonnage is manufactured in Nigeria while
offering benefits in reduced cost in logistics and operations.
The
plant will also support aftermarket services, including umbilical repairs,
reeler management and splicing."
Source:
DailyTrust
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